Set up in 2014, KKR India Asset Finance signed its first transaction in June 2014 when it invested about Rs350 crore in Mumbai-based Wadhwa Group’s luxury homes project, The Address, in suburban Ghatkopar. Since its launch, it has invested about $800 million in some 20 projects across the country.

KKR’s real estate investments are headed by Ashish Khandelia, who joined in 2013. Prior to joining KKR, Khandelia worked with Morgan Stanley Real Estate as executive director and head of acquisitions. Singapore’s sovereign wealth fund GIC Pte. Ltd is an investor in KKR India Asset Finance.

When contacted, a KKR spokesperson declined to comment.

“The Bengaluru project is doing well, and getting increased interest from our existing investors,” said a spokesperson at Bhartiya City Developers. It is the second time KKR is investing in a Bhartiya project in Bengaluru. In 2014, KKR deployed about Rs600 crore in its affordable housing project, Nikoo Homes.

KKR extended a structured debt finance of about Rs300 crore to Prince Foundations for projects including Prince Courtyard, a premium residential project in Egmore, Prince Highlands, a residential project at Ayyapanthangal, and Prince Ratnapuri Garden Residence, a commercial and residential project in Chennai city.

Pradeep Aggarwal-owned Signature Global, where KKR invested Rs200 crore, has launched several projects in Gurugram. Signature Global, one of the key stakeholders in financial investment firm SMC Group, will invest Rs500 crore to develop two housing projects in Gurugram as the company expects better demand after the government announced an interest subsidy under the Pradhan Mantri Awaas Yojna, Press Trust of India reported in January. The company launched two affordable housing projects comprising 2,405 units costing Rs18-24 lakh, the report said.

In May last year, Signature Global had raised Rs150 crore from ICICI Prudential’s real estate fund. An email sent to a Signature Global spokesperson did not elicit any response.

In 2015, KKR had invested Rs200 crore in structured debt in another project in Gurgaon—a group housing project by SARE Homes.

In January 2017, KKR India Asset Finance made an investment worth Rs300 crore in The Runwal Bliss, a premium residential project being developed in Kanjurmarg, Mumbai by the Runwal Group.